NIH SBIR funding from the National Heart, Lung, and Blood Institute advances the secure data platform behind a wearable designed to ease the burden of manual vital-signs checks and to support better-informed care whether in the hospital or at home.

MINNEAPOLIS, Oct. 13, 2026 — Senphonix, Inc., a medical technology startup developing SleeveSense™, a wearable designed to monitor patients’ vital signs continuously over days, weeks, or months at a time, today announced a Small Business Innovation Research (SBIR) Phase I award from the U.S. National Institutes of Health (NIH), through its National Heart, Lung, and Blood Institute (NHLBI). The award marks a major milestone for Senphonix: its second federal research grant in a matter of weeks, following a National Science Foundation (NSF) STTR Phase I award announced in September.

The NIH grant will fund testing of the platform’s software stack in a clinical environment, cloud and database scaling, and cybersecurity work toward SOC 2 Type II readiness. Taken together, it advances a platform built to address one of healthcare’s most persistent and costly problems: the manual, intermittent way patient vital signs are captured.

The two recent grants add to a fast-growing base of non-dilutive funding and partnership behind SleeveSense, spanning the NSF, the NIH, Microsoft, the Arizona Commerce Authority through the WearTech Applied Research Center, and the University of Arizona, reflecting growing momentum behind the problem it sets out to solve.

The need is significant and well documented. Nurses can spend up to and sometimes in excess of 20 percent of every shift taking and documenting vital signs manually, time drawn away from patient care. Because those readings are episodic, changes in a patient’s condition can go unseen between checks. After discharge, many patients are not monitored at all, creating a gap associated with costly, avoidable readmissions. Automated, always-on monitoring is intended to speak to each of these at once: reducing manual workload, supporting earlier awareness of a patient’s changing condition, and helping health systems pursue fewer readmissions and new remote-patient-monitoring revenue.

SleeveSense is a comfortable sleeve designed to be worn on the upper arm without interruption long-term, in and out of the hospital, and to deliver clinical-grade measurements, an accuracy target the company plans to validate in its upcoming clinical testing. It charges wirelessly, with no need to remove or handle the device. The commercial model is built to remove upfront financial risk for the hospital: Senphonix provides and manages all the infrastructure and only bills once a sleeve is assigned to a patient, so there is no capital outlay and nothing to pay for unused capacity.

“The barrier has never really been the sensor; it’s been building something hospitals can actually put to work and doing it with no upfront cost for them to try,” said Mike Haldane, Co-Founder and Co-CEO of Senphonix and principal investigator on the NIH award. “We designed SleeveSense to reduce manual workload and fit the way care teams already operate, with a light footprint and the clinical-grade accuracy we are validating in testing. NIH’s support helps us get the software clinically ready as we work toward bringing SleeveSense to market following FDA clearance.”

By design, the data is available to clinicians within the electronic health record, both during the hospital stay and after the patient goes home. Once discharged, patients can also view their own vitals through a simple mobile app that runs on its own with no action required. The work builds on the company’s NSF STTR Phase I award which funds development of the wearable’s wireless hardware and the software platform itself, so the two federal grants together move the device and its software from prototype toward clinical readiness.

Interest from the field is strong. In national studies sponsored by Senphonix, 98 percent of nurses (n=402) and 94 percent of healthcare CFOs (n=457) indicated they would support adopting SleeveSense within their organizations. Confidence level and margin of error for both studies were 95% and +/- 5% respectively.

“Two federal research awards in a matter of weeks, on top of private and state support, and clear demand from the nurses and CFOs who would use and buy it, tells us the market sees what we see,” said John Grant, PhD, Co-Founder and Co-CEO of Senphonix. “That combination of non-dilutive capital and real demand lets us move efficiently toward commercialization and the partnerships that will bring SleeveSense to health systems.”

Studies have shown that measurable changes in vital signs often precede serious adverse events, sometimes by hours. By monitoring without interruption in the hospital and at home, SleeveSense is designed to make those early changes easier to see and to give clinicians a fuller picture across the care continuum.

“For years, I watched companies try to make continuous wearable monitoring work in the real world, and every one of them ran into the same practical barriers that keep it out of hospitals,” said Mark Koppel, MD, a founding member of the Senphonix advisor team. “What convinced me about SleeveSense is that this team went after those friction points head-on, setting out to design around every one of them. That is what has been missing.”

Senphonix expects to begin a clinical study of SleeveSense in late 2026 or early 2027 and intends to pursue U.S. Food and Drug Administration (FDA) 510(k) clearance in early to mid-2027, following clinical testing. The NIH award follows the company’s implementation of its quality management system, establishment of manufacturing partnerships, and review of its clinical testing protocol with the FDA.

About Senphonix

Senphonix is a medical-technology company developing SleeveSense, a platform designed for continuous, comfortable, long-term vital-signs monitoring. It is being built to move with the patient across inpatient, outpatient, and at-home care, to fit hospital operations with a light footprint, and to be priced on a per-patient basis with the infrastructure managed by Senphonix. The company is a C-Corp based in Delaware, with offices in Arizona and Minnesota, and its core technology is exclusively licensed from the University of Arizona. Learn more at www.senphonix.com.

About the NIH SBIR Program

The Small Business Innovation Research (SBIR) program at the U.S. National Institutes of Health provides non-dilutive funding to U.S. small businesses to develop and commercialize innovative biomedical technologies that improve health and save lives.

Research reported in this press release is supported by the National Heart, Lung, and Blood Institute of the National Institutes of Health under Award Number R43HL184398. The content is solely the responsibility of the authors and does not necessarily represent the official views of the National Institutes of Health.

SleeveSense is a device in development. It is not currently cleared or approved by the U.S. Food and Drug Administration and is not available for sale. Statements in this release regarding the device’s intended design, performance, and benefits describe development goals and have not been established. This release contains forward-looking statements about product development, regulatory plans, and future performance that involve risks and uncertainties; actual results may differ.

Market research was administered by MarketWise Advising, LLC, via national surveys conducted in 2025 and 2026 for Senphonix. Disclosure: Mike Haldane is both Founder/President of MarketWise Advising and Co-Founder/Co-CEO of Senphonix.

Media Contact

Michelle Gjerde, PR Specialist
Senphonix
[email protected] | 605-303-1934

Product photos are available upon request.

SOURCE Senphonix, Inc.

Deep tech executive search firm expands leadership after 25 years in business; publishes 2026 Lonergan Silicon Valley 150

BURLINGAME, Calif., Oct. 13, 2026 — Lonergan, the Silicon Valley premier executive search firm specializing in board, CEO and senior leadership for deep technology companies, today named Kirsten Settle and Michael Cunningham as Managing Partners.

The appointments cap a year of expansion. Since Mark Lonergan founded the firm in 2001, Lonergan Partners has helped build some of the global technology ecosystem’s most important public and private companies. About a quarter of its placements are CEOs in deep tech (semiconductors, AI infrastructure, networking, robotics and quantum computing), with the rest spanning boards and senior leadership. Now Settle and Cunningham, with nearly two decades and more than 250 senior searches between them, succeed Mark and lead Lonergan into its next era.

The firm opened an Austin office in 2024 as part of this mission and has launched a new website, logo, and brand identity with a new vector symbol evolving into a more architectural expression of leadership, ambition, and purposeful growth. Constructed from a series of intersecting planes, the mark reflects the moments where expertise, opportunity, and vision align. Individual elements come together to create something stronger, a visual metaphor for Lonergan’s role in helping organizations build leadership teams capable of shaping what comes next.

“Kirsten and Michael have been running our most consequential searches for years. This appointment formalizes what our clients already experience,” said Mark Lonergan, founder and chairman of Lonergan. “Our firm set out to build something more deliberate than bigger executive search companies: pairing the rigor, discipline, and resources of the world’s largest search organizations with personal accountability and precision, acting as a neighbor, not a distant advisor. Kirsten and Michael deliver this experience to clients every day.”

“Boards are hiring against a business leadership and technology roadmap that did not exist three years ago with the rise of new challenges around AI transformation, security and sustainability,” said Settle. “Michael and I are passionate about finding the right talent against these challenges. Our F18 proprietary process helps deepen engagement between Boards and CEO candidates ahead of a hire to ensure alignment and set the foundation for a smooth, successful transition. We believe this disciplined approach is what separates a good C-level hire from a lasting one.”

“Deep tech is no longer only a Silicon Valley story,” said Cunningham. “Our Austin office exists because the companies building chips and compute infrastructure are hiring across Texas, Arizona and throughout the US and Canada, and boards want an advisor who is present in those markets.”

SV 150

The firm also recently published the 2026 edition of the Lonergan Silicon Valley 150, its ranking of the region’s largest public technology companies, issued annually. This year’s edition reports record aggregate 2025 revenue of $2.3 trillion across the list and net income of $608 billion, up 41%. Combined market capitalization reached $20 trillion at the end of the first quarter of 2026, a 33.9% increase, and a record high of 42 Silicon Valley companies now sit in the S&P 500. Lonergan has worked with 51 LSV150-ranked companies since 2010. 

About Lonergan Partners

Lonergan Partners is a premier executive search advisor to the world’s leading technology companies, with deep roots in Silicon Valley and reach across North America. Founded in 2001, the firm specializes in board positions, CEO and C-level leadership in deep technology. Every engagement is led personally by a senior partner, from the first conversation to final placement. The firm publishes the Lonergan Silicon Valley 150, a ranking of the region’s largest public technology companies, and has authored Who Runs Silicon Valley since 2014. Lonergan Partners is headquartered in Burlingame, California, with an office in Austin, Texas. Learn more at lonerganpartners.com.

Media contact

Nicole Conley
Tanis Communications, Inc.
[email protected]

SOURCE Lonergan

Former Navan, NYSE and Euronext executive joins as MoonPay scales across financial markets

NEW YORK, Oct. 13, 2026 — MoonPay, the global financial technology company powering the movement of value across fiat and digital assets, today named Anne Giviskos as Chief Financial Officer. Anne most recently served as Interim CFO and Chief Accounting Officer at AI-powered business travel and expense platform Navan.

The appointment comes as MoonPay continues to build the operating system for value. In recent months, the company launched MoonPay Trade, giving applications and institutions access to more than 200 blockchains and protocols through a single API. It also acquired DFlow, a Solana trading infrastructure platform that has processed $45 billion in volume so far in 2026. DFlow transactions appear in more than 95% of Solana blocks daily, and MoonPay’s trading infrastructure now powers some of the largest crypto platforms, enabling Solana trades for Coinbase and cross-chain swaps in Ledger Wallet. The company also introduced PayBox, expanding its agentic finance offerings. In September, MoonPay entered into an agreement to acquire North Capital, expanding into onchain capital markets.

“Anne knows how to help ambitious companies navigate defining moments,” said Ivan Soto-Wright, founder and CEO of MoonPay. “She brings experience from public markets and fast-growing technology companies, along with the judgment and discipline to help MoonPay expand responsibly across payments, stablecoins and financial markets.”

With over two decades building and safeguarding the infrastructure of traditional markets, Anne brings deep expertise in scaling regulated financial businesses and integrating acquisitions. As CFO, Anne will lead the finance organization, set financial and capital strategy and build the infrastructure to support MoonPay’s next phase of growth.

Anne joins an expanding leadership team. MoonPay recently welcomed board members and advisors with experience spanning Wall Street, national security, Silicon Valley and digital assets.

“The way money moves is being rebuilt and MoonPay sits at the center of that shift, with the products, partners and global reach to lead it,” said Anne Giviskos. “I’m thrilled to join the team as MoonPay scales into the company this moment calls for.”

About MoonPay

MoonPay is a global financial technology company that provides infrastructure for moving value across traditional and digital financial systems. Founded in 2019, MoonPay serves more than 35 million customers in 180 countries and more than 1500 enterprise clients across crypto and fintech. Its products support payments, trading, commerce, stablecoin infrastructure and other services that connect conventional payment networks with blockchain-based financial rails. MoonPay maintains regulatory licenses and authorizations in multiple jurisdictions, including the United States and European Union. For more information, visit www.moonpay.com.

Media Contacts

MoonPay
[email protected]

SOURCE MoonPay

With returning LPs and major financial institutions on board, the $201.5-million fund is already 35 percent deployed across four restaurant brands.

SALT LAKE CITY, Oct. 13, 2026 — Savory Fund, the private equity firm behind the breakout growth of restaurant category leaders Swig and Mo’ Bettahs, today announced the final close of Savory Fund III at $201.5 million, surpassing its $200 million target. The fund drew a mix of returning and new limited partners, including the country’s leading financial institutions, and has already deployed 35 percent of its capital.

“Raising a fund is a vote of confidence, and our investors voted loudly,” said Andrew K. Smith, co-founder and Managing Director of Savory Fund. “The majority of our third fund’s LPs invested with us in Fund I or II. They’ve been here as we’ve helped scale 13 restaurant brands across the country, from Detroit-style pizza to Nashville-style hot chicken to dirty soda, and I don’t take it for granted that they came back. Seeing major banks join them was a proud moment for us. It tells me people are starting to see restaurants the way we always have: these are real businesses that create jobs, anchor neighborhoods, and give people a place to gather. And when they’re run well, they are also strong, profitable investments. We’ve got four standout brands in Fund III already, and we’re just getting started.”

Fund III continues Savory’s strategy of partnering with profitable, emerging, founder-led restaurant concepts and pairing capital with a full operating platform led by CEO Clay Dover. The fund will ultimately include eight to nine portfolio companies across the quick-service, fast-casual, and casual dining segments.

Four investments are already in place:

South Block, a better-for-you acai and smoothie brand expanding beyond its home market in the Washington, D.C. area

Bonrue Bakery, a European-style patisserie with a devoted Utah following

Hawkers Asian Street Food, a Michelin Guide-recommended concept outperforming its category in AUVs and guest frequency

Zao Asian Grill, a fast-casual leader posting nearly 20% percent same-store sales growth

“Capital is the part of our business that’s easiest to explain, but it isn’t what sets Savory apart,” said Shauna K. Smith, co-founder and Managing Director of Savory Fund. “What our investors are really backing is the team behind the checks: operators who have opened restaurants, built playbooks, and know what it takes to scale without losing what made a brand special. Fund III gives us the runway to bring that expertise to more founders who are ready for their next chapter.”

Since its founding in 2018, Savory has grown to a portfolio of 13 restaurant brands spanning 400+ restaurants across 27 states. Its track record includes two of the most talked-about restaurant brands in the West. Under Savory’s partnership, Swig grew from 17 to 46 locations before Savory sold a majority stake to The Larry H. Miller Company in 2022. Mo’ Bettahs grew from six to 56 locations, more than nine times its original footprint, before Savory sold a majority stake to Blue Marlin Partners and Trive Capital in 2024. Savory remains a minority owner of both brands, and Andrew K. Smith continues to serve on both boards.

With four to five investments still ahead, Savory is actively evaluating new partnerships with founder-led brands ready to scale. To learn more, visit SavoryFund.com.

ABOUT SAVORY FUND

Savory is an innovative private equity firm that combines over $750M in assets under management with a growth playbook and expertise developed over 18 years of operating in the restaurant industry. Savory partners with high-potential, profitable, emerging restaurant brands to deliver financial capital, industry expertise, growth and revenue opportunities, profitability enhancements, and new location development. Founder involvement in the expansion of a brand is a central theme of the Savory approach. Savory is currently invested in the following brands: Swig, R&R BBQ, Pincho, Via 313 Pizzeria, Mo’ Bettahs, Saigon Hustle, Hash Kitchen, The Sicilian Butcher, Houston TX Hot Chicken, South Block, Bonrue Bakery, Hawkers Asian Street Food, and Zao Asian Grill. For more information, visit SavoryFund.com.

SOURCE Savory Fund

AI Developer Cloud sees nearly 3x revenue growth since January as developer adoption and enterprise demand accelerate

SAN FRANCISCO, Oct. 13, 2026 — Runpod, the AI Developer Cloud, today announced that Brian Erickson has joined the company as Chief Financial Officer as Runpod surpasses $325 million in annual recurring revenue (ARR), up from $120 million in January 2026. Erickson brings more than 25 years of financial and operational leadership experience, including senior roles at DigitalOcean, Amazon and Microsoft, to support Runpod’s next phase of growth.

Runpod’s momentum is being driven by rapid developer adoption and growing enterprise demand for AI infrastructure. More than 1.2 million developers now build on Runpod, up from approximately 495,000 a year ago. September marked the platform’s biggest month on record, with more than 95,000 new signups.

Erickson joins Runpod from Suzy, an AI-powered consumer insights and market research platform, where he served as Chief Financial Officer. Previously, he was CFO of Transfix, a technology-enabled transportation marketplace, where he helped guide the company through a successful sale transaction. Earlier, Erickson held senior finance leadership roles at DigitalOcean, helping the cloud infrastructure provider scale profitably and navigate its initial public offering. He also held finance roles at Amazon and Microsoft, supporting the growth of their cloud computing businesses. Erickson holds a bachelor’s degree in business administration from the University of Notre Dame and an MBA from the University of Washington.

“Runpod has built something rare in cloud infrastructure: a platform that developers genuinely want to use, with enterprise adoption following naturally from that demand,” Erickson said. “Having spent much of my career helping cloud and technology companies scale, I see a tremendous opportunity to build on that foundation. I’m excited to help Runpod translate its developer momentum into a durable, category-defining business.”

More than one million developers at companies of all sizes trust Runpod for AI development: major global enterprises (Sony, Toyota, Intel), premier academic institutions (Columbia University, Cornell University, UCLA), and high-growth AI companies including Deep Cogito, Rendair, and Nodalview use Runpod to build and scale AI applications. Its platform supports the full AI development lifecycle, from training and fine-tuning to inference and deployment, without requiring developers to switch infrastructure as their needs evolve.

“We’ve grown nearly threefold this year because developers are building real businesses on Runpod, and those businesses are scaling fast,” said Zhen Lu, CEO and Co-founder of Runpod. “That creates enormous opportunity, but also demands a different level of financial and operational discipline. Brian has helped some of the world’s most successful cloud companies grow. He brings the experience to strengthen our financial and operational discipline as we scale.”

About Runpod

Runpod is the AI Developer Cloud. Purpose-built for AI workloads, Runpod provides the infrastructure AI developers need across the full lifecycle: experiment, train, fine-tune, deploy and scale. Over 1 million developers build on Runpod. From a solo developer’s first deployment to the largest AI teams running at scale, Runpod offers a fast, trusted path from AI experiment to production. Learn more at runpod.io.

SOURCE Runpod

Co-founders Florian Sabani and Luca Dalla Chiara join Mesh to accelerate its vision of a global payment network that connects users across any chain, wallet, exchange, or currency

SAN FRANCISCO, Oct. 13, 2026 — Mesh, the leading crypto payments network, today announced it has acquired Bluvo, a developer of exchange connectivity technology. Co-founders Florian Sabani and Luca Dalla Chiara have joined Mesh.

Mesh is building toward a world where money moves freely across the entire financial stack, regardless of where a user holds their funds or which rails they run on. Since 2020, the company has connected more than 300 exchanges and wallets through a single integration. Sabani and Dalla Chiara set out to solve the same problem from the outside. Bringing them into Mesh’s foundation means the people who built that keep building, now at the scale of the network.

“The next era of finance is one where a user’s money moves wherever it needs to go without them ever thinking about which chain, exchange, wallet, or currency it started in. Mesh has spent six years building the network that makes that possible, and we intend to be the standard the world moves on,” said Bam Azizi, CEO and Co-founder of Mesh. “When we saw what Flo and Luca had built on their own, it was obvious they saw the same future we do. We’d rather have them building it with us than in parallel.”

“Joining Mesh simply made sense. We’d spent years working the exchange side of this problem on our own and knew how much bigger the opportunity was than any one integration. Mesh already has the reach to solve it at scale, and joining forces means we get there together, faster,” said Luca Dalla Chiara, Head of Exchange Partnerships at Mesh.

“At 300+ integrations, the hard part isn’t making a connection work once, it’s keeping it reliable every time. We’re building toward more uptime and less complexity for developers and users,” said Florian Sabani, Senior Staff Software Engineer at Mesh.

ABOUT MESH

Founded in 2020, Mesh is building the first global crypto payments network, connecting hundreds of exchanges, wallets, and financial services platforms to enable seamless digital asset payments and conversions. By unifying these platforms into a single network, Mesh is pioneering a connected and secure ecosystem for digital finance. For more information, visit meshpay.com.

SOURCE Mesh

FORT WASHINGTON, Pa., Oct. 13, 2026 — Coventry, the leader and creator of the secondary market for life insurance and a pioneer of the life insurance-backed asset class, today announced that Neal Jacobs, Senior Managing Director, Capital Markets, has been elected to the Executive Committee of the European Life Settlement Association (ELSA). Jacobs was elected at ELSA’s Annual General Meeting on September 15, 2026.

Jacobs brings more than two decades of experience at Coventry and a longstanding commitment to advancing the life settlement industry. His election continues Coventry’s participation in ELSA’s leadership and its work to support industry standards, market transparency, and greater understanding of life settlements among institutional investors.

“Building a stronger life settlement market requires collaboration across our industry,” said Jacobs. “I look forward to supporting ELSA’s work to broaden investor understanding, strengthen market standards, and expand opportunities for the policyowners and investors our industry serves.”

Jacobs is a Director of the Life Insurance Settlement Association (LISA) and is the immediate past Board Chair of LISA. He also previously served as Vice-Chair.

“It has been a privilege to serve on LISA’s board and help advance its work on behalf of the industry and policyowners,” Jacobs added. “I remain committed to that work through the remainder of my term and look forward to contributing to our industry’s continued development through ELSA.”

ELSA represents participants in the European life settlement market and works to promote industry standards and understanding of the asset class. Jacobs is one of four new members elected to ELSA’s nine-member Executive Committee.

About Coventry
Coventry is the leader and creator of the secondary market for life insurance and a pioneer of the life insurance-backed asset class, operating an integrated platform across four complementary verticals: the secondary market for life insurance, longevity lending, life insurance and annuity distribution, and insurance technology.

Through these businesses, Coventry expands financial options for policyowners, provides capital solutions backed by life insurance policies and other longevity-linked assets, broadens access to insurance and retirement products, and applies technology to enhance pricing, risk management, and operational efficiency across the life insurance ecosystem.

Guided by a longstanding commitment to consumer rights and market integrity, Coventry leverages its leadership position to raise industry standards, expand consumer choice, and responsibly develop institutional-quality life insurance-backed investment solutions.

Over its history, Coventry has acquired more than 23,000 life insurance policies, completed more than $50 billion in longevity-linked transactions, delivered more than $6 billion to policyowners, and originated more than $1 billion in life insurance-linked loans. To learn more about Coventry, visit Coventry.com.

SOURCE Coventry

Investment adviser highlights lockups, entry price and fund structure as key considerations for private-market investors

SAN JUAN, Puerto Rico, Oct. 13, 2026 — Global Venture Management LLC, an SEC-registered investment adviser focused on private technology companies, today released five lessons for private-market investors from the 2026 technology IPO market, a year that included SpaceX’s Nasdaq debut in June.

“2026 reminded everyone that an IPO is a milestone, not a finish line,” said Damian Maggio, Fund Manager at Global Venture Management. “The investors who did best planned for what happens after the listing.”

The firm’s five lessons:

1. Know the lockup. Pre-IPO holders usually can’t sell for a set period after listing, and prices can move a lot in that window.
2. Entry price matters as much as the company. A great company bought at the wrong valuation can still disappoint.
3. Plan for distributions. When a fund distributes shares in kind, each investor has to decide whether to hold or sell.
4. Diversify across companies and years. Very few private companies reach an IPO, and timing is impossible to predict.
5. Read the structure. Fund and SPV terms decide fees, timing, and what investors actually receive.

“Pre-IPO investing rewards patience and discipline,” Maggio said. “It also carries real risk, and it isn’t right for every investor.”

About Global Venture Management Global Venture Management LLC is an SEC-registered investment adviser formed in 2021 and headquartered in San Juan, Puerto Rico. The firm focuses on late-stage private technology companies. www.globalventurecap.com

Disclosure: For general information only. Not investment advice, and not an offer to sell or a solicitation of an offer to buy any security. Past events do not predict future results. SEC registration does not imply a certain level of skill or training.

Media Contact: Lisa Galego Global Venture Management 516-267-7028 [email protected]

SOURCE Global Venture Management

Garage Beer stakeholders include Jason and Travis Kelce and Durational Capital Management.

NEW YORK, Oct. 13, 2026 — Tiger Finance has provided a $20 million revolving line of credit to Garage Beer, one of the fastest-growing premium light beer brands.

Based in Columbus, Ohio, Garage Beer is an American light beer brand with its roots in the Midwest. The beer is crisp, refreshing, and 95 calories. It’s Beer Flavored Beer™, to be enjoyed anywhere you and your friends get together. The Company has been led by Founder Andy Sauer since 2023 and has experienced continued growth following a 2025 strategic investment from Durational Capital Management, LP (“Durational”).

“We appreciate Tiger’s creativity and partnership to structure a credit facility that leverages the strength of Garage Beer’s brand to support the Company’s growth objectives,” said Patrick Khayat, Co-Founder and Partner of Durational. “Tiger Finance is a debt partner that we have collaborated with in the past, and we look forward to furthering the relationship as we expand the Garage Beer line of products and grow into new markets. They are uniquely situated to support consumer brands with creative long-term lending solutions.”

“We are thrilled to have been chosen by Durational and the Company as their preferred financing partner,” said Andy Cerussi, Senior Managing Director of Tiger Finance. “We have the highest confidence in Durational’s ability to further the growth and scale of the business and are impressed with impact the Kelce brothers have had on positively influencing brand awareness.”

The financing is the latest by the Tiger Group lending platform, which provides a variety of asset-based debt solutions across industries and asset classes.

About Tiger Finance
Tiger Finance relies on deep asset knowledge to meet the complex capital needs of borrowers from across industries. The secured lending platform unlocks the strategic value of assets such as working capital, machinery and equipment (M&E), fixtures, real estate, and intellectual property (IP). Its intelligent capital solutions for middle-market companies include first-lien, second-lien, and split-lien facilities, typically structured as term debt. Tiger Finance is a division of Tiger Capital Group, which specializes in the provision of secured debt financing and equity investments, as well as comprehensive appraisals for the ABL industry and the disposition of consumer and industrial assets. www.tigergroup.com/finance

About Durational Capital Management, LP
Based in New York, Durational Capital Management LP is an investment firm that invests in high-quality consumer companies. Durational approaches its investments with a strategic mindset and focuses on driving long-term value creation through partnership with top tier management teams and actively supporting management to drive operational improvements. The firm was founded in 2017, and its investment professionals have extensive experience investing in the consumer sector. For more information, visit: www.durational.com

About Garage Beer
Garage Beer is the fastest-growing beer brand in the United States. Crisp, crushable and brewed for good times, Garage Beer is a no-nonsense 4% ABV lager with just 95 calories and 3g of carbs. It comes in two crowd-favorite varieties: Classic and Lime. Beer finder locator here and follow the ride at www.drinkgaragebeer.com, Instagram and X.

Media contacts: At Jaffe Communications, Joey Linde, (908) 789-0700, [email protected]

SOURCE Tiger Group